The AARP 401(k) Fee Calculator, powered by BrightScope, Inc., is a tool that estimates the fees associated with individual plans and compares them to the average for a low-cost 401(k) investor. It also approximates in dollars the potential impact of the fees on the investor’s balance at retirement age, according to a press release.
After completing the calculations, the AARP 401(k) Fee Calculator suggests additional resources and action steps investors might consider if they find their fees are higher than the average low-cost 401(k) investor.
In a recent survey by AARP, more than seven in ten (71%) 401(k) plan participants incorrectly reported that they do not pay any fees to plan providers (see Most 401(k) Participants not Aware of Fees They Pay).The calculator can be found at http://www.aarp.org/401kfees. A free registration is required.